Artificial intelligence impact in finance industry increasing - Financial Regulation News

Research conducted by Censuswide on behalf of BlackLine, Inc., a leading provider of financial controls and automation software that enables Continuous Accounting, showed Officials said the survey incorporated the responses of 300 CFOs, finance directors and accountants in American companies with annual revenues of more than $150 million. Nearly half of the respondents indicated AI already plays a role in their organization today, while 30 percent are currently investigating its use. Further analysis revealed more than half of respondents said the technology should enable them to complete accounts payable and receivable functions without the need for human intervention. Almost half of the respondents said AI would further facilitate the automation of reconciliations and nearly one-third said the tools would assist the financial close. "The responses underscore the growing power and use of AI tools and the implications for the finance organization," Therese Tucker, founder and CEO of BlackLine, said.